Kaiser Readies Big Deals

Saskal, Rich
May 2006
Bond Buyer;5/19/2006, Vol. 356 Issue 32385, p1
Trade Publication
The article reports that California-based hospital and health care giant Kaiser Permanente is hitting the bond market soon to raise $1.5 billion towards its substantial capital needs. Kaiser received a one-notch upgrade from Oakland-based Fitch Ratings Inc. ahead of the coming deals, elevating its long-term underlying rating to A-plus from A. Fitch Ratings operates an integrated system that combines a health insurance plan with the operation of 31 hospitals. The forthcoming bond issue comes in fixed- and variable-rate mode from two conduit issuers. Plans include issuance of $900 million in fixed-rate bonds and $600 million in variable-rate bonds. Fitch's upgrade to Kaiser Permanente's long-term ratings also affects to $2.6 billion in outstanding debt.


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